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LESSONS ABOUT GROWTH, CONVERGENCE AND TRADE FROM ANALYTICAL AND NUMERICAL SOLUTIONS OF A 2x2 OVERLAPPING GENERATIONS MODEL FOR A GROWING-POPULATION ECONOMY

Sayan, Serdar; Jelassi, Mehdi - Society for Computational Economics - SCE - 2005

±gurations, and investigate implications of the initial conditions for convergence and growth. We then proceed to study the … sensitivity of dynamic equilibrium to changes in the population growth rate and explore how differences in demographic … countries that are identical except for population growth rates in much the same way as done in the Heckscher-Ohlin (HO) model …

Persistent link: https://www.econbiz.de/10005537515

The Quest for Status and Endogenous Labor Supply: The Relative Wealth Framework

Fisher, Walter H.; IHS-Vienna; Hof, Franz X. - Society for Computational Economics - SCE - 2006

This paper introduces the quest for status into the Ramsey model with endogenous labor supply. We focus our attention on relative wealth preferences. In contrast to relative consumption preferences, they allow for the possibility that agents work too little in the long run, while under both...

Persistent link: https://www.econbiz.de/10005132588

Income Risk and Household Debt with Endogenous Collateral Constraints

Hintermaier, Thomas; Koeniger, Winfried - Society for Computational Economics - SCE - 2006

We investigate possible determinants of the increase of household debt and smaller consumption fluctuations since the 1980s in the US. We use a heterogeneous-agent model, in which labor income is risky and markets are incomplete. Consumers use durables not only as collateral for their debt but...

Persistent link: https://www.econbiz.de/10005132601

General Equilibrium Tax Policy with Hyperbolic Consumers

Petersen, Toke Ward - Society for Computational Economics - SCE - 2001

Recently David Laibson (1998) and others have argued in favor of using hyperbolic discount functions. The purpose of this paper is to investigate whether conventional wisdom, based on the standard model with exponential discounting, also holds in the case where consumers have hyperbolic discount...

Persistent link: https://www.econbiz.de/10005132874

Housing, Personal Bankruptcy, Entrepreneurship

Terajima, Yaz; Meh, Cesaire - Society for Computational Economics - SCE - 2005

Homestead exemption is defined as the level of home equity that a household declaring bankruptcy can keep. This exemption level varies across states in the United States. As entreprenurial activities are risky, small business owners value the insurance the bankruptcy law provides. In their...

Persistent link: https://www.econbiz.de/10005343040

Habit Formation, Catching up with the Joneses, and Non-Scale Growth

Alvarez, Francisco; Monteiro, Goncalo - Society for Computational Economics - SCE - 2003

Persistent link: https://www.econbiz.de/10005345648

Payday Loans, Consumption Shocks, and Discounting

Tobacman, Jeremy; Skiba, Paige - Society for Computational Economics - SCE - 2005

Payday loans are high-interest rate, short-term loans which mature on borrowers' paydays, have terms equal to the duration of one pay cycle, and are collateralized with post-dated personal checks. Roughly nine million American households borrowed on payday loans in 2002, typically paying...

Persistent link: https://www.econbiz.de/10005170559

The Dynamics of Wealth and Income distribution in a Neoclassical Growth Model

Turnovsky, Stephen; Penalosa, Cecilia Garcia - Society for Computational Economics - SCE - 2006

We examine the evolution of the distributions of wealth and income in a Ramsey model in which agents differ in their initial capital endowment and where the labor supply is endogenous. The assumption that the utility function is homogeneous in consumption and leisure implies that the...

Persistent link: https://www.econbiz.de/10005132613

Consumption, Growth and Asset Pricing: A Regime Switching and Robust Control

Dibooglu, Sel; Kenc, Turalay - Society for Computational Economics - SCE - 2005

state variable. With these two features, the framework will be better suited to analyze consumption, growth and asset …

Persistent link: https://www.econbiz.de/10005343011

Complex dynamics in a Pasinetti-Solow model of Growth and distribution

Commendatore, Pasquale - Society for Computational Economics - SCE - 2004

The one-sector neoclassical growth model (Solow, 1956,RES) can generate only simple dynamics. The dynamic properties of … complex dynamic behaviour. We study some of the properties of a discrete-time version of the two-class model of growth and …

Persistent link: https://www.econbiz.de/10005345243